Sellers of public housing asking 'jackpot' prices and driving off buyers

'Jackpot' prices drive off buyers

"Asking prices of public housing flats have surged by 30 to 50 per cent in the last two months," Fullmark Property Agency sales manager Kim Chan Shek-kam said. "Sellers are setting prices as if they want to try their luck by winning the Mark Six jackpot, despite the fact they can hardly find any buyers at those prices."

Wednesday, 12 June, 2013, 4:07am 2 comments

Housing chief warns against panic buying

Anthony Cheung Bing-leung. Photo: Sam Tsang

The housing minister has urged Hongkongers not to rush to buy flats, after home prices were marked up and housing demand surged following the chief executive's policy address.

"People should not buy flats in a panic," said Professor Anthony Cheung Bing-leung, issuing an assurance that the government would ensure a stable supply of flats.

20 Jan 2013 - 3:50am

Thousands sign up for subsidised homes after Leung policy fails to impress

People apply for subsidised housing at Greenview Villa in Tsing Yi on the last day for applications in Tai Hang. Photo: Sam Tsang

Hundreds of homebuyers flocked to submit their forms as the application for 5,988 flats under two subsidised housing schemes drew to a close late on Friday.

18 Jan 2013 - 7:02pm 1 comment

Home Ownership Scheme changes will hurt private sales

Construction under way at Greenview Villa in Tsing Yi, where the flats will be sold under the My Home Purchase Plan. Photo: K. Y. Cheng

Prices of small flats on sale in the secondary market are likely to come under downward pressure as a result of increased competition for buyers.

5 Dec 2012 - 4:25am

Mortgage insurance market set for boost from HOS

Festival City in Tai Wai may be attracting buyers, but with a decline in sales generally, the mortgage market is changing. Photo: Bloomberg

Big rises announced by the government last week in the income and asset caps for applicants seeking to buy subsidised housing will create a new market for insured home loans, say analysts.

5 Dec 2012 - 4:15am

What the local media says

Hong Kong cyclist Lee Ming-hay, 32, who began his cycling world tour in Berlin in April, has so far ridden almost 14,000 kilometres across eight countries. He arrived in Hong Kong last Saturday with new partner "Egg Tart", a kitten he picked up on the Silk Road in Xinjiang. The kitten now faces four months in quarantine.

1 Dec 2012 - 2:59am

Top court clears up HOS flat ownership row

People who contribute to mortgage payments for Home Ownership Scheme flats are entitled to partial ownership, even though they are not named on formal documents, the Court of Final Appeal ruled yesterday.

14 Nov 2012 - 4:21am

Call to scrap middle-income housing purchase scheme

Unionist legislator Leung Yiu-chung

A handful of lawmakers have called for the abolition of a scheme - widely praised last year - aimed at helping middle-income families buy used flats under the home ownership scheme (HOS).

At a housing panel meeting yesterday, members voted 9-5 to pass a motion calling on the government to shelve the plan. The motion is not legally binding.

6 Nov 2012 - 3:39am 2 comments